IBPS SO AFO Salary 2022: Check basic pay, allowances and more!

IBPS SO Agriculture Field Officer Salary, Job Profile, Career Growth: We have shared the IBPS SO Agriculture Field Officer Salary, Job Profile, and Career growth in this post.

Proper knowledge of the actual work culture, type of tasks to be undertaken, and in-hand salary of the Agriculture Field Officer of IBPS SO will help the candidates reach a well-informed decision before applying for the same.
IBPS SO Agricultural Officer Job Profile
It is critical that you understand the type of job you will be doing after being selected as an IBPS SO Agriculture Field Officer.

• Agriculture Field Officers are mostly in charge of promoting rural funding.
• SO's job is to disburse loans to farmers and other people who work in the primary sector of the economy.
• Aside from disbursement, Agriculture Field Officers are in charge of reviewing agricultural loans.
• Agriculture officers are assigned the job of promoting the bank in rural areas in order to expand the bank's agricultural portfolio, according to bank requirements.
• The agriculture officer ensures that work is progressing as planned, that the farm is profitable, and that financial goals are met.
• Agricultural loans are classified under the priority sector, and hence managing them efficiently is crucial. An Agriculture Field Officer apart from reporting to the senior officials is also responsible for coordinating with other organizations working in the rural economy such as NABARD and RRBs.

TABLE OF CONTENT

1. Pay Scale of Agriculture Field Officer
2. Salary Components and Allowances/ Perks Offered under Agriculture Field Officer
3.  In-hand Salary for Agriculture Field Officer
4. Responsibilities of an Agriculture Field Officer of IBPS SO

Pay Scale of Agriculture Field Officer

The basic salary of an Agricultural Field Officer under JMGS (Junior Management Grade Scale – I) is in a similar scale as that of Probationary Officers, i.e.

Rs. 23700-980(7)-30560-1145(2)-32850-1310(7)-42020.
The following are the IBPS SO Agricultural Field Officer Salary information for various posts:

Scale	Salary
IBPS SO AFO Officer Scale I	Pay Scale– Rs. 23700-980/7-30560-1145/2-32850-1310/7-42020 Monthly salary– Rs. 36400/-
IBPS SO AFO Officer Scale-II	Pay Scale- Rs. 31705-1145/1-32850-1310/10-45950 Monthly salary- Rs. 48800/-
IBPS SO AFO Officer Scale III	Pay Scale- Rs. 42020-1310/5-48570-1460/2-51490 Monthly salary- Rs. 64600/-

 

Salary Components and Allowances/ Perks Offered under Agriculture Field Officer

A candidate is eligible for the following perks and allowances after selection as Agriculture Field Officer in IBPS SO:

1. Basic Pay– It is the amount of salary paid to the bank employees excluding any extra payments such as allowances and bonuses. For bank SO, it is INR 23700, with effect from June 01, 2015.
2. Pay Scale of Agriculture Field Officer under Junior Management Grade Scale I is 23700–980(7)-30560–1145(2)-32850–1310(7)-42020
3. In-hand Salary - Basic salary is 23700 and you will get around 33000-35000 in hand after all the additions and deductions. Gross salary would be around 38–39K excluding allowances.
4. Dearness Allowances (DA) –Wherever you are posted to, the bank provides you the facility to pay all your cost of living on its own responsibility. It is the cost of living adjustment out of your basic salary, aimed at hedging the impact of inflation. For bank specialist officers, it is INR 8605.88
5. House Rent Allowance means that the employee will get the house accommodation expenses on behalf of banks, depending on their city of residence. Bank has allowed 9% or 8% or 7% HRA, depending upon the place and the position of an employee.
6. City compensatory allowance is a fully taxable component of salary which is given to the employees to compensate them for working in big metropolitan cities so that to help them living in high standard. It is the fixed amount rather than calculated on basic pay. CCA for bank SO is generally 4%, 3% or 0%, depending on the place of position.
7. Special Allowances –Special allowances are given to only Scale-1 officers(7.75%). Scale-2 is exempted from this advantage. These are the performance-based bonus or incentives given to employees depending upon their quality performance.
8. Perquisites –It is the profit or benefit provided to employees in addition to their regular salary. It includes newspaper/laundry allowances, medical coverage, Travel allowances, conveyance, house and furniture allowance and total 4130 is calculated to be given.
9. Least Accommodation is up to Rs 29500, this is provided in lieu of HRA.
   Other benefits:
   Specialist Officers face less frequent transfers as compared to general bankers. Bank jobs are usually secure. There is no risk of you losing your job.
   • Specialist Officers enjoy the same promotions, benefits, and perks enjoyed by general bankers.
   • Working as a Specialist Officer in banks also increases your knowledge of finance and economy which will help you plan your finances better.

 In-hand Salary for Agriculture Field Officer

Candidates receive almost Rs. 33000-35000 as in-hand after all the deductions.After numerous deductions, IBPS SO AFO personnel will receive their salaries. After subtracting all central government expenses, the Institute of Banking Personnel Selection will pay the salary of the Specialist Officer and Agricultural Field Officer. Once the official notification is posted, more information about IBPS SO AFO in hand remuneration 2022 will be provided.

Responsibilities of an Agriculture Field Officer of IBPS SO

1. An AFO promotes the bank’s loan products in rural areas, particularly among farmers.
2. An AFO meets and maintains a good relationship with farmers and thereby generates Leads.
3. They conduct a pre-loan sanction inspection.
4. They follow up in case of recovery of loans.
5. They also ensure the proper recovery of loans and getting the acknowledgment of debt.

You can practice most expected IBPS SO Mock tests.

After selection, a candidate receives various opportunities for promotions from the JMGS-I level. The career growth in IBPS SO Agriculture Field Officer progresses as mentioned below:

1. Junior Management Grade Scale – I (Officer)
2. Middle Management Grade Scale-II (Manager)
3. Middle Management Grade Scale – III (Senior Manager)
4. Senior Management Grade Scale – IV (Chief Manager)
5. Senior Management Grade Scale – V (Assistant General Manager)
6. Top Management Grade Scale – VI (Deputy General Manager)
7. Top Management Grade Scale – VII (General Manager)

Also, you can check:

IBPS SO AFO Syllabus

IBPS SO AFO Eligibility Criteria

 

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